PHL, Canada FTA Talks Resume in September; North American First

The Philippines and Canada are aiming to finalize text-based negotiations in the fourth round of talks for their proposed free trade agreement (FTA), scheduled for September. Both countries are on track to conclude negotiations within the year, according to the Department of Trade and Industry (DTI). Trade Undersecretary Allan B. Gepty told reporters that significant progress has been made, and he anticipates the negotiations to be on track for completion by November. "In terms of progress we achieved, it's very substantive. So, I can say that we're still on track," Mr. Gepty said. He noted that both sides were able to close some chapters of the trade pact during the third round of FTA talks held in July. The fourth round of negotiations will be held in Ottawa, Canada. Once signed, the Canada FTA would be the Philippines' first trade pact with a North American country. Canada was the Philippines’ 16th largest trading partner in 2023, with bilateral trade hitting $2.15 billion. Last year, Philippine exports to Canada amounted to $1.31 billion, while its imports were valued at $840 million. In their recent meeting in Vancouver, President Ferdinand R. Marcos, Jr. and Canadian Prime Minister Justin Trudeau committed to bolster trade ties. Mr. Trudeau noted that the Philippines-Canada FTA will serve as "the foundation of our new Canada-Philippines strategic partnership," noting a goal to triple bilateral trade by 2035.